Research shows optimism among small and medium business owners in Houston reaching an all-time high. This optimism can translate into results. Year 2018 might be the ideal time to sell your business in Houston. 

Houston, Texas

When you do sell, a few simple strategies can support the process and ensure optimal results:

  • Be cooperative and friendly. Give the buyer the information they want, and ensure that information is reliable. Don’t complain. This builds trust, and shows the buyer you don’t have anything to hide.  
  • Practice open, honest communication. A transaction will run more smoothly and close more quickly when the buyer and seller have good chemistry and plenty of trust. This requires a foundation of honest and open communication. 
  • Encourage the buyer to see themselves as the new owner. Help the buyer feel like they can successfully manage the business. Present the business as a well-run machine.  
  • Avoid defensiveness. It’s natural to feel defensive in the face of criticism, but this approach does you no favors. Buyers ask questions because they need assistance to make decisions. It’s nothing personal, and not an attack on your business. Be open to these questions, and you’ll build a solid foundation of trust. 
  • Know that first impressions matter. Treat your business like a showroom. A buyer will conclude much about product quality, operational efficiency, and service based on how the business’s facilities appear. 
  • Be open, but optimistic, about growth opportunities. Buyers will approach the business from the perspective of a manager, looking for opportunities to improve the business. Help the buyer understand these opportunities, and support them to view inefficiencies as opportunities for growth. 
  • Be available. Regular meetings can help get the deal closer to closing. Once you identify a qualified buyer, plan regular meetings during which you are open, available, and not frequently interrupted. This is particularly important as you begin the process of due diligence. 
  • Maintain current financial records. When a buyer must wait for financial statements, enthusiasm declines and trust erodes. Notify your accountant of your intentions when you decide to sell, so that financial records are readily available and your buyer is not left waiting. 
  • Prepare for an emotional roller coaster. Due diligence can be an emotional ride. You’ve poured your heart and soul into this business, and now must part with it. The buyer will also experience a range of emotions. Understand that the process of getting to a closing is as much psychological as it is about numbers. 
  • Arm yourself with a team of professional advisors. A skilled team of experts can help you more quickly sell the business, and with more favorable terms. Trust and confide in them early, and involve them at all stages of the process.